New production of MBS backed by home-equity loans during the first quarter of 2007 sank to its lowest level in more than two years, according to a new ranking and analysis by Inside MBS & ABS. A total of $110.35 billion of... [Includes one chart and one graph]
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Even though Fannie Mae and Freddie Mac continue to operate under growth restraints on their investment portfolios, the two government-sponsored enterprises still have plenty of capacity to respond fully to the subprime market meltdown, their chief regulator said this...
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Subprime servicers are under increased scrutiny as the performance of subprime MBS continues to decline. If a servicer’s performance deteriorates to the point in which a transfer of servicing is necessary, Fitch Ratings has found that most... [Includes two charts]
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Subprime MBS are performing worse than previously expected and there will likely be increased ratings downgrades as a result, Moody’s Investors Service warned. The rating service this week raised its loss estimates for subprime MBS issued in 2006 from 6 percent to...
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Freddie Mac plans to assume the transfer agent and payment agent role for definitive mortgage PCs that still exist in certificate form, effective July 1, working to ensure investors keep getting paid. “Right now, the transfer and payment agent for Freddie’s...
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The Department of Housing and Urban Development this week announced that it approved a pilot program at Freddie Mac in whole loan REMIC securitizations. HUD’s approval of the program occurred back in November 2005, shortly after Freddie had launched it. The agency’s...
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